Funding you earn now, next payment 22:00 UTC−0.0026%/8h= −2.9% APRpaid last 24h −0.021%
Price spread now: Phemex against ApeX Omni−0.035%7-day average −0.003% · you buy dearer than you sell
Net, funding: paid 7d − costs−$68as in the Funding arb table
Net, price: spread back to 7d avg − costs−$46as in the Price arb table
costs, in and out, $10k−$430.430% of the position
Funding, last 7 days−0.250%−$25 on $10k
+Price spread, last 3 days (all we have)−0.091%−$9 · spread now −0.035%, 7d avg −0.003%
=Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Phemex is 0.032% cheaper against ApeX Omni than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.003%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | ApeX Omni TRXUSDT | 0.3439 | 0.0100 | pay 0.0013% / 1h | 31m 25s | $115K | $541K | 50x |
| Short | Phemex TRXUSDT | 0.3438 | 0.0074 | get 0.0074% / 8h | 2h 31m | $3.8M | $1.6M | 50x |
ApeX Omni TRXUSDT
Phemex TRXUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against ApeX Omni. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$5.47
- Price spread: −0.035% → −0.003%
- −$3.19
- Slippage, 4 orders
- −$21.01
- Fee ApeX Omni: 5 bp × 2 orders
- −$10
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$51.67
- Costs to cover
- 0.430%
- Break-even
- never at this rate
Slippage from ApeX Omni: live order book, 56 min ago; Phemex: live order book, 2 min ago.
Cost to enter
taker fee + slippage from the mid, one side; closing costs about the same again| Leg | Half-spread | $10k | $100k | $1M | $5M |
|---|---|---|---|---|---|
| Buy ApeX Omni live order book, 56 min ago | 4.65 bp | 11.7 bp −$12 | 123.0 bp −$1,230 | doesn't fit | doesn't fit |
| Sell Phemex live order book, 2 min ago | 0.14 bp | 6.8 bp −$7 | 11.4 bp −$114 | doesn't fit | doesn't fit |
TRX on 32 venues
lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Reya TRXRUSDPERP | −0.0133% | 1h | 0.3437 | −0.065% | $5 | — | 20x | as long as short |
| Bybit TRXUSDT | −0.0089% | 8h | 0.3436 | −0.087% | $54.7M | $8.2M | 75x | as long as short |
| Variational Omni TRX | −0.0086% | 8h | 0.3436 | −0.079% | $562K | $39K | — | as long as short |
| Phoenix TRX | −0.0070% | 1h | 0.3439 | 0.000% | $5K | $13K | 10x | as long as short |
| Aster TRXUSDT | −0.0054% | 8h | 0.3438 | −0.020% | $951K | $638K | 75x | as long as short |
| Injective TRX/USDC PERP | −0.0048% | 1h | 0.3439 | −0.003% | $1K | $100K | 12x | as long as short |
| Backpack TRX_USDC_PERP | −0.0044% | 1h | 0.3438 | −0.044% | $58K | $5K | 10x | as long as short |
| HTX TRX-USDT | −0.0032% | 8h | 0.3437 | −0.069% | $825K | $708K | 75x | as long as short |
| SoDEX TRX-USD | −0.0010% | 1h | 0.3438 | −0.044% | $404 | $5K | 5x | as long as short |
| Lighter TRX | −0.0008% | 1h | 0.3437 | −0.055% | $483K | $628K | 10x | as long as short |
Reya TRXRUSDPERP
Bybit TRXUSDT
Variational Omni TRX
Phoenix TRX
Aster TRXUSDT
Injective TRX/USDC PERP
Backpack TRX_USDC_PERP
HTX TRX-USDT
SoDEX TRX-USD
Lighter TRXShow all 32 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance TRXUSDT | −0.0002% | 8h | 0.3438 | −0.047% | $99.2M | $49.1M | 75x | as long as short |
| MEXC TRX_USDT | −0.0002% | 8h | 0.3438 | −0.044% | $17.2M | $1.6M | 200x | as long as short |
| Extended TRX-USD | 0.0000% | 1h | 0.3437 | −0.073% | $196K | $1.1M | 25x | as long as short |
| gTrade (Gains Network) TRX/USD | L +0.0003% / S −0.0007% | 1h | 0.3439 | +0.005% | $121K | — | 150x | as long as short |
| OKX TRX-USDT-SWAP | +0.0008% | 8h | 0.3437 | −0.049% | $15.6M | $8.8M | 50x | as long as short |
| KuCoin TRXUSDTM | +0.0030% | 8h | 0.3436 | −0.084% | $8.7M | $3.6M | 75x | as long as short |
| Paradex TRX-USD-PERP | +0.0042% | 8h | 0.3437 | −0.051% | $9K | $385 | 20x | as long as short |
| BingX TRX-USDC | +0.0066% | 8h | 0.3438 | −0.035% | — | $6.5M | — | as long as short |
| Bitget TRXUSDT | +0.0068% | 8h | 0.3437 | −0.070% | $9.4M | $2.1M | 75x | as long as short |
| Phemex TRXUSDTshort | +0.0074% | 8h | 0.3438 | −0.035% | $3.8M | $1.6M | 50x | |
| Aevo TRX-PERP | +0.0080% | 1h | 0.3436 | −0.084% | $33K | — | 3x | as long as short |
| Kraken Futures PF_TRXUSD | +0.0087% | 1h | 0.3440 | +0.012% | $1.9M | $977K | 25x | as long as short |
| Orderly PERP_TRX_USDC | +0.0088% | 8h | 0.3438 | −0.032% | $14K | $107K | 20x | as long as short |
| Hyperliquid TRX | +0.0100% | 1h | 0.3440 | +0.020% | $13.2M | $2.2M | 10x | as long as short |
| Gate TRX_USDT | +0.0100% | 8h | 0.3438 | −0.038% | $9.7M | $2.5M | 75x | as long as short |
| edgeX TRXUSDC | +0.0100% | 4h | 0.3438 | −0.041% | $587K | $436K | 20x | as long as short |
| ApeX Omni TRXUSDTlong | +0.0100% | 1h | 0.3439 | long leg | $115K | $541K | 50x | |
| SunX TRX-USDT | +0.0100% | 8h | 0.3441 | +0.054% | $196K | $916K | 30x | as long as short |
| BloFin TRX-USDT | +0.0118% | 8h | 0.3439 | 0.000% | $4.6M | $4.0M | 50x | as long as short |
| dYdX TRX-USD | +0.0154% | 1h | 0.3439 | −0.013% | $181K | $10K | 10x | as long as short |
| Deribit TRX_USDC-PERPETUAL | +0.0270% | 1h | 0.3442 | +0.078% | $828K | $407K | 25x | as long as short |
| GMX TRX/USD [ETH-USDC] | L +0.0366% / S −0.0395% | 1h | 0.3439 | −0.002% | $20K | — | 100x | as long as short |
Binance TRXUSDT
MEXC TRX_USDT
Extended TRX-USD
gTrade (Gains Network) TRX/USD
OKX TRX-USDT-SWAP
KuCoin TRXUSDTM
Paradex TRX-USD-PERP
BingX TRX-USDC
Bitget TRXUSDT
Aevo TRX-PERP
Kraken Futures PF_TRXUSD
Orderly PERP_TRX_USDC
Hyperliquid TRX
Gate TRX_USDT
edgeX TRXUSDC
SunX TRX-USDT
BloFin TRX-USDT
dYdX TRX-USD
Deribit TRX_USDC-PERPETUAL
GMX TRX/USD [ETH-USDC]